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Communiqué de presse

Swisscom vend sa participation indirecte dans Cesky Telecom

05 décembre 2003

TelSource NV, la coentreprise fondée par Swisscom et KPN, vend sa participation minoritaire de 27% dans Cesky Telecom au prix de CZK 255 par action. La part de Swisscom au produit de la vente s'élève au cours de change actuel à 500 millions de CHF, (greenshoe incl).

Un syndicat bancaire a proposé les actions à des investisseurs internationaux dans le cadre d'une procédure accélérée de bookbuilding. La part de Swisscom au produit de la vente et une somme d'environ 120 millions de CHF, provenant du dividende exceptionnel de Cesky Telecom en 2003, contribueront à augmenter l'Equity Free Cash Flow (EFCF) de Swisscom en 2003. Conformément à sa politique de distribution, Swisscom redistribuera l'EFCF dans son intégralité à ses actionnaires, par le versement de dividende et le rachat d'actions. Un complément d'information concernant, notamment, le montant, la forme et la date de cette redistribution, sera fourni lors de la publication des résultats annuels le 24 mars 2004.

TelSource est une coentreprise de KPN et de Swisscom, dont elles détiennent respectivement 51% et 49%. Telsource a été choisie en 1995 par le Gouvernement tchèque comme partenaire stratégique de Cesky Telecom. Dans le cadre de sa réorientation stratégique internationale, Swisscom avait décidé de prendre une participation financière dans Cesky Telecom.

Berne, le 5 décembre 2003

Disclaimer:

This announcement is for information purposes only and is not an offer to sell, or the solicitation of an offer to buy, any securities.

The distribution of this announcement and the offer and sale of securities of Cesky Telecom in certain jurisdictions may be restricted by law. Any persons reading this announcement should inform themselves of and observe any such restric­tions.

THIS PRESS RELEASE IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES. THE OFFER AND SALE OF SECURITIES OF CESKY TELECOM REFERRED TO IN THIS PRESS RELEASE HAVE NOT BEEN, NOR WILL THEY BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933 AS AMENDED (THE "SECURITIES ACT") AND THE SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT. ANY PUBLIC OFFERING OF SECURITIES OF CESKY TELECOM TO BE MADE IN THE UNITED STATES WOULD HAVE TO BE MADE BY MEANS OF A PROSPECTUS THAT WOULD CONTAIN DETAILED INFORMATION ABOUT THE ISSUER OF THE SECURITIES AND ITS MANAGEMENT, AS WELL AS FINANCIAL STATEMENTS.

In addition, this announcement is directed only at persons who (i) are outside the United Kingdom or (ii) have professional experience in matters relating to investments or (iii) are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations, etc.") of The Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (all such persons together being referred to as "relevant persons").  This announcement must not be acted on or relied on by persons who are not relevant persons.  Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons.

In the Czech Republic, this announcement is solely directed at institutional investors within the meaning of Section 5(1) (investment companies, investment funds, pension funds, insurance companies etc.) of Act No. 15/1998 Coll. on the Securities Commission, as amended ("institutional investors") and must not be acted on or relied on by persons who are not institutional investors.

Kontakt

Swisscom AG
Media Relations
3050 Bern

media@swisscom.com